RBC Capital Markets hires for global macro FX sales team

RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, has hired Raymond Schumertl as a director of global macro FX sales as it continues to expand its global footprint.

Schumertl, who was most recently with Morgan Stanley, will be based in Hong Kong and will report to Natasha Brook-Walters, global head of macro FX.

Schumertl brings more than 18 years of experience to his new job. At Morgan Stanley he was an executive director in FX institutional sales based in Tokyo. He has also held senior positions at Chase Manhattan Bank and Bank of America.

In a comment on the hire, Brook-Walters said Schumertl's expertise and experience in this market will complement RBC Capital Markets' existing pan-Asian platform in Hong Kong, Singapore, Tokyo and Sydney as it strives to bring the bank's Asian foreign exchange products to its international client base.

RBC Capital Markets has been beefing up its staff in Asia over the past six months as part of a hiring spree that saw it add in excess of 320 people throughout its global capital markets operations in the 12 months to November. In that same month, it hired Mike Bass, whose last position at a major bank was as head of commodities in Singapore with Standard Chartered Bank, as head of fixed-income and currencies for Asia (non-Japan); in October it hired Citi's head of yen rates trading in Tokyo, Mark Otis Zownir, as head of US dollar rates trading; and in September Stefanie Holtze, who has a background within FX at J.P. Morgan Chase in Frankfurt and at RBC in London, joined as a director in foreign exchange sales.

All of these hires are based in Hong Kong.

RBC Capital Markets currently has over 4,000 employees globally and ranks among the top 20 global investment banks. It is active in fixed income, foreign exchange, infrastructure finance, metals, mining and energy. RBC is the largest bank in Canada and the 13th largest in the world, and one of only eight banks with a triple-A rating from Moody's.